Advantage Alpha Capital Partners LP Acquires 3,348 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Advantage Alpha Capital Partners LP lifted its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 39.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 11,863 shares of the bank’s stock after buying an additional 3,348 shares during the period. Advantage Alpha Capital Partners LP’s holdings in Glacier Bancorp were worth $542,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GBCI. Pacer Advisors Inc. grew its holdings in Glacier Bancorp by 2.6% during the second quarter. Pacer Advisors Inc. now owns 16,943 shares of the bank’s stock worth $632,000 after purchasing an additional 427 shares during the period. Inspire Investing LLC increased its holdings in shares of Glacier Bancorp by 6.7% during the 2nd quarter. Inspire Investing LLC now owns 9,472 shares of the bank’s stock worth $353,000 after acquiring an additional 593 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Glacier Bancorp by 7.6% during the 2nd quarter. Hsbc Holdings PLC now owns 8,498 shares of the bank’s stock worth $317,000 after acquiring an additional 600 shares during the last quarter. Allied Investment Advisors LLC raised its stake in Glacier Bancorp by 4.5% in the 3rd quarter. Allied Investment Advisors LLC now owns 14,831 shares of the bank’s stock valued at $678,000 after acquiring an additional 643 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in Glacier Bancorp during the 2nd quarter valued at $25,000. Institutional investors own 80.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GBCI. Piper Sandler lifted their target price on shares of Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Raymond James boosted their price objective on Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Truist Financial increased their target price on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $46.20.

Glacier Bancorp Price Performance

Shares of NASDAQ:GBCI opened at $58.89 on Tuesday. The firm has a 50 day moving average of $50.06 and a 200-day moving average of $43.85. Glacier Bancorp, Inc. has a 12 month low of $32.00 and a 12 month high of $60.67. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $6.68 billion, a PE ratio of 36.35 and a beta of 0.77.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. The firm had revenue of $324.28 million during the quarter, compared to the consensus estimate of $212.57 million. During the same quarter in the previous year, the firm earned $0.47 earnings per share. On average, equities research analysts predict that Glacier Bancorp, Inc. will post 1.7 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th will be given a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.32 annualized dividend and a yield of 2.24%. Glacier Bancorp’s dividend payout ratio is presently 81.48%.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc operates as the bank holding company for Glacier Bank that provides commercial banking services to individuals, small to medium-sized businesses, community organizations, and public entities in the United States. The company offers retail banking, business banking, and mortgage origination and loan servicing services.